Windfall taxWindfall tax

Professional Adviser
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Venture capital trusts are a gift for the tax planner. Alastair Conn advises on how to get the best deal for your clients

Ten years ago, the range of tax-efficient options open to private investors in venture capital was very narrow. Many of the Business Expansion Scheme investments promoted in the 1980s failed to perform and activity became concentrated on the asset-backed 'assured tenancy' vehicles. Not before time, the Treasury began consultations to see if a way could be found to encourage private investors to channel their money, with the benefit of tax relief, into small private growth companies in the UK. The result ' venture capital trusts (VCTs). VCTs were formally established by the then Chancel...

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